Let’s face it. Reading all the ins and outs of event sponsorships is not the most exciting part of your job. For many, it is the least exciting part of the job. Why? Well, to put it simply, the verbiage is boring. It gets down to the basics, so no matter how exciting your event, the gist of the proposals for event sponsorships you read will be informative rather than entertaining.
However, event sponsorship proposals are important and necessary for your business to succeed; therefore, you must assess them appropriately. The problem is that far too many in this field focus mainly on the cost rather than assessing whether the companies interested in sponsoring events are a good fit.
So, how do you wade through the details of these proposals without losing your mind? It’s not as bad as you may think. In fact, if you apply these tricks, it will be less time consuming because you will know what you are doing.
Provide Clear, Easy-to-Find Guidelines
First and foremost, you must have guidelines for what you are looking for with event sponsors. Companies that sponsor events should be able to easily find on your website and read the guidelines your company uses for sponsorship proposals. Having clearly defined guidelines will weed out those companies that are not the best fit, as well as provide you with the information you want up front.
Event Sponsorship Proposals Don’t Meet Your Guidelines? Throw Them Out.
Whenever you begin looking over an event sponsorship proposal that doesn’t appear to meet your guidelines, stop reading! You are wasting your time. You know what you want and need when it comes to event sponsors – don’t settle for less.
Look for Advantageous Event Sponsors
Always think ahead. As you review proposals, consider companies that offer event sponsorship packages that are advantageous. For instance, is there a company interested in sponsoring an event that you can partner with in other areas?
Stop Focusing Solely on Money
If you are only looking at proposals to see the numbers, you are missing the point. Ultimately, it is better to pay more for an advantageous sponsor than to settle for a cheap proposal that will provide far less ROI.
Additionally, pay more attention to the benefits you will receive from partnering with a company than the commodity benefits. As Forbes explains, “Your brand is the most important commodity your small business has. […] When sponsors associate with your brand, their positive image and identity benefits yours and lends you credibility.”
Only Talking About Themselves? Walk away.
The best sponsorships work to better both businesses. Therefore, if the company interested in sponsoring an event only talks about themselves and shows no interest in your brand or audience, take a pass.
Focus on Relevancy
Again, look for proposals that will fit your niche. When you read a sponsorship proposal from a business that understands your brand, your audience, your followers, and your market, then keep reading.
If Something Can Be Improved in the Proposal, Improve It
Don’t let minor details keep you from embarking on what could be a great sponsorship. Evaluate the value through the lens of improvement. For example, if the company seems like a good fit, but the cost or the benefits could be improved, then submit a counter-offer.
There Are Other Fish in the Sea
Finally, always remember there are other fish in the sea. If you find yourself believing you must accept an offer because it is all that is in front of you, don’t give in. Instead, take the initiative. Go after the event sponsors you want and ask them to submit sponsorship proposals.